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Pre - Market Analysis (23rd March 2023)


1. U.S Markets closed lower yesterday. 
2. Right now , U.S Futures are slightly higher.
3. SGX Nifty is down 50-60 Points.
4. Asian markets are mostly down.
5. Yesterday was a rangebound day.
6. Nifty moved vigorously after market opening Yesterday. 
7. It was trading in a tight range of 100 points or so 
8. FII's were net buyers yesterday. 
9. After having sold aggressively on daily basis ,they took a pause yesterday. 
10. That might be due to the FED event.
11. They might have preferred not to carry any trades going into the event.
12. Yesterday FED raised interest rates by 25 basis points.
13. The Commentary was also Hawkish as the FED governor raised concerns of Banking crisis.
14. Though he gave assurance that there's lot of liquidity etc market fell after the event.
15. Market swung yesterday before the event and more so post the event.
16. FED'S action of raising the rates despite the ongoing banking crisis instilled fear amount the investing community.
17. FED also gave a road map that there would only be one rate hike in 2023.
18. Today is weekly expiry and looking at open interest it feels that market should trade in a tight range.
19. There has been huge open Interest at 17100 , 17150 & 17200 strikes both Call & Put.
20. There has been huge Call writing for 17200 and above.
21. Nifty might trade between 17000 to 17200 today. 




































































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